Michael Spence: The Next Convergence (1/5)

India and China are set to converge to lifestyles and consumption levels similar to those enjoyed by the industrialized countries. The rise of these new economic giants puts enormous strain on the earth's biosphere. At the same time, their rise poses challenges to the structure of employment in the United States and other industrialized economies, as low-value-added jobs migrate to emerging markets. These are the central themes of this INET interview and of Nobel Laureate Michael Spence's book "The Next Convergence: The Future of Economic Growth in a Multispeed World".

This is clip 1 of a 5-part interview.